HEADLINES AND HOUSING
Literally everyone is talking about affordable housing this week. We’ve noticed the headlines about “rent rising $100 per month.” We’ve seen the latest research showing how Calgarians are being priced out of buying homes in their own city. And we’ve all seen the tent cities popping up all across the country over the past few years.
But what’s new is that the politicians are finally listening: on all levels. When was the last time we saw that?
It’s most unfortunate that as a country we had to get to this point to get everyone’s attention. But the first step to any recovery is admitting that we have a problem. The housing problems have slightly different nuances in each town and city, but the underlying issues are essentially the same.
In spite of the perpetually negative spin in the media, we are thrilled! Yes, you read that right. The solution lies in all levels of government paying attention, coming to the table with policy changes, and following through with actions.
As real estate investors, we see and hear a lot of discouraging stories lately. But again, we see a phenomenal season of opportunity. Who doesn’t love having newly built rental properties in their portfolio? They rent easily, they often attract better tenants, and those tenants often stay longer. Personally we love lower maintenance properties! Some of those new builds even have new home warranties connected to them!
We’re really excited to see what comes from the Calgary City Council meetings that are going on this week. They voted down the last round of recommendations, but the backlash from citizens spoke loud and clear. Now Council appears much more motivated to start making a difference in the housing “crisis.” Truthfully, some of Calgary’s bylaws are waaay behind other cities. But this Council now has the opportunity to at least catch up.
The next 5-10 years for Calgary and area real estate investors looks incredibly promising. I know, we usually try to keep it positive AND keep it real, and today is a little heavy on the positive. But we’re bringing out the rose-coloured glasses because we see so much opportunity to solve housing problems and provide great real estate investments.
Stay tuned (haha, old tv throwback) for more information about the new building opportunities in and around Calgary.
